For the quarter ended March 31, 2026, InMed reported a net loss of $3.0 million, up from $2.1 million a year earlier, driven by increased R&D spending of $1.0 million versus $0.4 million and general and administrative expenses of $1.7 million. Cash, cash equivalents and short-term investments declined to $5.2 million from $10.8 million as of June 30, 2025, and no revenue was recorded in continuing operations.

InMed disclosed new 3D human brain organoid data showing dose-dependent reductions in pro-inflammatory markers IL-6 and IL-8 in both lipopolysaccharide-induced and Alzheimer’s disease-specific inflammation models. These findings align with prior in vivo and ex vivo studies and support the compound’s potential translation to human clinical trials targeting neuroinflammation in Alzheimer’s disease.

The board approved winding down BayMedica’s commercial operations, the company’s only revenue-generating segment, with $0.7 million in sales classified as discontinued operations for the quarter. BayMedica intends to complete the exit before its fiscal year ending June 30, 2026, while maintaining limited sales, marketing, manufacturing and logistics during the wind-down period.